Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Waterfront Homesite in Ophelia, Virginia Title is generated by Realmo AI

    Canvasback Drive lot 4, Ophelia, VA 22530

    View on Map
    Claim this Listing
    For Sale
    $118,500

    LAND - OPHELIA, VA

    Lot size:
    1.75 Acres
    Added:
    Mar 22, 2021
    Days on Market:
    1900
    Last Refresh:
    Jun 3 at 5:06 am

    Property Features for Canvasback Drive lot 4

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    SFR
    Standard status
    Active
    APN
    29-D-2-0-4-0
    Lot size
    1.75 Acres

    Taxes and HOA fees

    Tax Annual Amount
    878

    Utilities

    Utilities
    Water Available
    Water front features
    Creek

    We can help!

    Listing Contact
    Betsy Stanley
    Betsy Stanley

    Listing agent Betsy Stanley License #0225199462

    Listing office Shaheen,Ruth, Martin & Fonville Real Estate P.O. Box 89, Richmond, VA

    Listing date Mar 22, 2021

    MLS# 109860 Listing URL

    Copyright © 2026 Northern Neck Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Direct waterfront access on the Little Wicomico River with access to the Chesapeake Bay.
    • Protected waterfront lot with 2‑4 ft water depth.
    • Central water system.
    • Underground utilities.
    • Septic letter on file.
    • Low annual common area maintenance fee ($120).

    Overview

    This 1.75-acre waterfront homesite is located in an established subdivision. The protected lot, situated in Section III, features a water depth of 2-4 feet. Enjoy access to the Little Wicomico River and the Chesapeake Bay via a nearby jetty. The property benefits from a central water system and underground utilities. A septic letter is on file. An annual common area maintenance fee of $120 is required per restrictive covenants and the future owners' association. A generator agreement is available for power outages, with an annual fee of $100-$150. The zoning is SFR. The property is located in Ophelia, Virginia.
    Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Ophelia
    County
    Northumberland
    State
    Virginia
    Longitude
    -76.2649606
    Latitude
    37.9008183

    Nearby Similar for Sale

    • $250,000

      Waterfront Land in Ophelia, Virginia

      Waterfront building lot with dock and rip rap shoreline.
      Wicomico Harbor Drive lot: 3, OPHELIA, VA 22530
      View Details
    • $118,500

      Waterfront Homesite in Ophelia, Virginia

      Waterfront land with central water and underground utilities.
      Canvasback Drive, Ophelia, VA 22530
      View Details
    • $39,000

      Water Access Homesite in Ophelia

      Waterfront land for sale in established subdivision near Chesapeake Bay.
      Canvasback Drive, Ophelia, VA 22530
      View Details
    • $39,000

      Water Access Homesite in Ophelia

      Waterfront land for sale in established subdivision near Chesapeake Bay.
      Canvasback Drive, Ophelia, VA 22530
      View Details
    • $39,000

      Ophelia, VA Water Access Homesite

      Established subdivision with water access, central water, and underground utilities.
      Canvasback Drive, Ophelia, VA 22530
      View Details
    • $39,000

      Water Access Homesite in Ophelia

      1.4 acre homesite with water access and underground utilities.
      Canvasback Drive lot: 2, OPHELIA, VA 22530
      View Details
    • $39,000

      Water Access Homesite in Ophelia

      Established subdivision with Little Wicomico River access.
      Canvasback Drive lot: 1, OPHELIA, VA 22530
      View Details
    • $39,000

      Water Access Homesite in Ophelia

      Residential land with water access in established subdivision.
      Canvasback Drive lot: 3, OPHELIA, VA 22530
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - Waterfront land for sale in established subdivision with central utilities.
    Where is this waterfront land located?
    The property is located at Canvasback Drive lot 4 Ophelia, VA.
    What is the asking price?
    The asking price for this property is $118,500.
    What are key features of this property?
    This property features: Direct waterfront access on the Little Wicomico River with access to the Chesapeake Bay.; Protected waterfront lot with 2‑4 ft water depth.; Central water system.
    (804) 347-3488
    We can help!
    Listing Contact
    Betsy Stanley
    Betsy Stanley
    Real Estate License ID: 0225199462
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    Canvasback Drive lot: 4, OPHELIA, VA 22530
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!